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IN RE LANDRENEAU

Bankruptcy No. 485-01595-LO-7.

74 B.R. 12 (1987)

In re Glenwood Joseph LANDRENEAU and Maffie Ann Guillory Landreneau, Debtors.

United States Bankruptcy Court, W.D. Louisiana.

January 16, 1987.

Attorney(s) appearing for the Case

Jake Fontenot, Mamou, La., for debtors.

W. Simmons Sandoz, Opelousas, La., Trustee.

OPINION AND ORDER

W. DONALD BOE, Jr., Bankruptcy Judge.

This matter comes before the Court on the trustee's application to sell certain movables by "offset bid". Such a sale means that a secured creditor bids the amount of the debt owed to him, plus "administrative costs". The sale nets nothing for the unsecured creditors, but may save the secured creditor some costs and time delays of foreclosure in state court. In this case, the first mortgagee bid in...

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